Changes Ahead:Kentucky seeking general consultant

Kentucky Retirement Systems, Frankfort, issued an RFP for a general consultant, said CIO Adam Tosh. The $16.1 billion fund’s current consultant, Strategic Investment Services, can rebid, Mr. Tosh said. SIS has mainly been assisting with alternative investments; system officials are now looking for a consultant that can help in a variety of areas. The fund could hire one or two consultants, one general investment and one for alternatives. “It will depend on the responses we get” to the RFP, Mr. Tosh said. The RFP is available on the fund’s website, http://www.kyret.com/RequestForProposals.htm. Proposals are due by 4:30 p.m. EDT May 30.

Texas Prepaid Higher Education Tuition Board, Austin, issued an RFP for an investment consultant, according to the state’s website. The RFP is available at http://esbd.cpa.state.tx.us. Proposals are due by 2 p.m. CDT May 30. Spokesman R.J. DeSilva did not respond by press time to a request for further details.

New Mexico Educational Retirement Board, Santa Fe, issued an RFP for an active emerging markets equity manager to run $300 million to $400 million. Funding primarily will come from reducing allocations for the $8.8 billion fund’s four active international equity managers and its four active large-cap domestic equity managers, said CIO Bob Jacksha. Specifics on the reductions have not been determined, but no managers will be terminated. The fund increased its emerging markets allocation to 10% from 3% as the result of an asset allocation study completed in late 2007 by NEPC, which is assisting in the search. Alliance Capital ran about $295 million in emerging markets for the fund as of Jan. 1, according to the fund’s website. Its allocation won’t change. Total asset distribution as of that date was 36.9% domestic equity, 29% fixed income, 19.8% international equity (including 3.7% of total assets in emerging markets), 8.6% absolute returns, 4.9% REITs, 0.6% private equity, and 0.1% each real estate and cash. The RFP is available at http://www.nmerb.org/rfps.htm. Proposals are due by 3 p.m. MDT June 6.